Pear Therapeutics Publicly Trading On Nasdaq After SPAC Merger

The company was founded in 2013, and since Monday, it has finally started trading on Nasdaq. Besides, it has completed its merger with blank cheque company Thimble Point Acquisition Corp; the $175 million raised from the business combination would be utilized to fund its digital therapeutic goods. The deal valued Pear at $1.6 billion. By now, the Pear Therapeutics on Nasdaq is trading under the “PEAR” symbol. Its stock market is now suddenly rallying by more than 36% to $12.53, while the last trading session was closed at $9.27. Before that, the price was unsteady and slightly fluctuated.

Pear Therapeutics
The company aims to accelerate the vision of expanding access to FDA-approved PDTS. However, the company has several products approved by the FDA. And one of them is Pear-004 for the treatment of schizophrenia, and it was already released in April 2020. During the pandemic, the FDA relaxed regulations on digital psychiatric care devices. Despite this, the company initially planned to go public as part of a deal to acquire a special purpose company (SPAC) in June. Since trading on Nasdaq, it has an $822,641 trading volume while the average volume is 203,719.